148. New Founders, New Stages, New Offerings– The Only Constant in Venture is Change (Vic Pascucci)

Vic Pascucci Lightbank The Full Ratchet

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Vic Pascucci of Lightbank joins Nick to discuss New Founders, New Stages, New Offerings– The Only Constant in Venture is Change. In this episode, we cover:

  • Where’d you get your start in venture and how’d your path lead to Lightbank?
  • Can you walk us through the Lightbank backstory… before you joined?
  • What’s the current thesis and investment focus for the firm?
  • How active a role do you play with portfolio companies?
  • Does Lightbank still have their studio/foundry arm, ‘Lightbank Start’?
  • What, if anything, do you think the team at Lightbank can do a better job of going forward?
  • Do you think your approach is different than Eric and Brad’s?
  • Recently spoke w/ Semil Shah about the multiple stages, within seed… pre-seed, seed, inst seed, post seed, seed extension. WTF is going on with the seed round?
  • There’s been an explosion of seed funds… do you think this is a problem? Is there a bubble at seed or, w/ the way barriers to startup have come down, is the influx of capital warranted?
  • I’m noticing entrepreneurs moving away from SAFEs and Convertibles… are you seeing the same? If so, why do you think that’s the case?
  • How have you seen startup capital raises change over time and do you think it’s moving in the right direction?
  • What should every founder be thinking about, during a fundraise, that most often they’re not even considering?
  • At a high-level, what metrics and milestones are you looking for at Series A?
  • Are you seeing a difference in the makeup of founding teams and their capabilities? From personal experience, I certainly notice a difference in the style and approach of a early-20’s tech founder vs. a mid-30s founder w/ domain knowledge.
  • So, you’re a blockchain guy… I see you on various blockchain boards and I know that you invested in Coinbase in 2015… and, on the record, you were very bullish on cryptocurrency’s at the time, when many were not. But what’s the deal w/ all these token offerings and ICOs? I’m a relative novice here… can you explain to me what’s going on and where you see it going?

 

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